Budget Deficit / Budget Surplus (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Budget Deficit / Budget Surplus   Lesson 1 National Debt & Budget Deficit Explained   The relationship between spending and revenues is reflected in the surplus or deficit figure. A surplus is an excess of revenues over outlays, while a deficit is an excess of … Read more

Unified Budget (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Unified Budget   Funding the Government: The Budget Process and Omnibus Spending Bills [Article I Initiative]   Under budget concepts set forth in the Report of the President’s Commission on Budget Concepts (October, 1967), a comprehensive budget in which receipts and outlays from federal and … Read more